We have 11 recessed light fixtures in our house that take the Par 30 halogen style lightbulbs. They cost $10 each, and habitually burn out every 6 months. We replaced them with LED bulbs. The LEDs cost the same amount, have an expected lifespan of 25 years, and our electric bill dropped nearly $80 a month.
They are very bright, dimmable, and come in several colors of light - from cool to warm.